Changes in Legislation

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June 2019

New requirements for the legal entities pursuant to the Measures against Money Laundering Act

2019-06-14T15:02:53+02:00June 14th, 2019|Changes in Legislation|

Dear Clients, Hereby, we would like to inform you about significant change into the Measures against Money Laundering Act / MAMLA/, related to the activity of all legal entities established and operating in the Republic of Bulgaria. In addition to the obligation for declaring the ultimate owner of the shared capital for the [...]

May 2019

New rules for declaring of the real owners of the companies under the last amendments in MAMLA

2019-05-17T15:24:24+02:00May 17th, 2019|Changes in Legislation|

New rules for declaring of the real owners of the companies under the last amendments in MAMLA The amendments in the Measures Against Money Laundering Act (MAMLA) entered into force on May 10, 2019 and have the purpose to relieve the business from unnecessary administrative obligations. The alterations were made with the Transitional [...]

January 2018

Annual leave entitlements

2018-03-20T15:54:45+02:00January 29th, 2018|Accounting, Bulgarian Laws in English, Changes in Legislation, Payroll, Questions & Answers|

Annual leave entitlements Regular paid annual vacation is a right to every employee in Bulgaria. It is in the interest of both the employer and the employees, before the expiry of the calendar year to execute written documents for postponing the use of the unused days of paid annual leave due to the respective [...]

December 2017

Tax reliefs from employment in Bulgaria

2018-03-20T15:54:45+02:00December 14th, 2017|Accounting, Bulgarian Laws in English, Bulgarian Tax Guide, Changes in Legislation, Consulting, Payroll, Questions & Answers, Taxation|

From this year on, a new declaration for lack of public liabilities must be filled for those employees who would like to benefit from tax relief. According to the Personal Income Tax Act (PITA), every taxable person who has no mandatory public obligations at the date of submission of the annual tax return can submit [...]

Amendments to the Ordinance on working hours, breaks and holidays – can we allocate part of our working time?

2017-12-07T12:16:46+02:00December 7th, 2017|Accounting, Bulgarian Laws in English, Changes in Legislation, Consulting, Payroll|

With the State Gazette № 41 have been adopted amendments to the Ordinance on working hours, breaks and holidays. Its purpose is to refine the legislation regarding the calculation on working time in aggregate. The new changes shall be effective from 1 January 2018. They clarify the way in which the regime of aggregated working [...]